Igas Energy Share Discussion Threads

[rajraj b] 05/9/2022 12:00

If Liz wins this IGAS should move up. She's pro fracking

[svenice7] 05/9/2022 10:23

All those folk waiting for 65p, this is going to 120p when the 90p seller is done.

[buffinman] 05/9/2022 09:05

Can't get too upset that AJL's overnight bounceback stalled at 37% :)

[svenice7] 05/9/2022 09:04

Uk natural gas prices up 32% this morning.

[sos100] 05/9/2022 08:41

nothing will stop the uplift in share price if she wins :)

and makes further positive statements.....

interesting week coming up

[buffinman] 05/9/2022 07:07

Extract:

However, the fracking industry has warned Ms Truss that she would need to take urgent steps to free energy companies from the planning and regulatory burdens that could hold back their attempts to begin drilling with haste.

Charles McAllister, director at UK Onshore oil and gas, said: “In order to facilitate timely UK shale gas production in the national interest, comprehensive policy support from the Government is required.

“This should include reform to the pace of decision making in planning and environmental permitting as well as ensuring that seismicity regulations for the industry are consistent with other sectors, such as quarrying and geothermal.

“The failure to develop the abundant Bowland Shale in the north of England poses unacceptable economic, environmental and geopolitical risks to the UK.”

[buffinman] 04/9/2022 18:00

hxxps://www.thetimes.co.uk/article/russia-ussr-will-stand-fall-oil-comment-ml3rptfrw

Dominic Lawson argues:

'As far as this country is concerned, the obvious policy response to Moscow’s manipulation of gas supply would be for the new prime minister to reverse the onshore shale gas moratorium kept in place by Boris Johnson. If even just 10 per cent of the reserves estimated by the British Geological Survey are recoverable, that amounts to 50 years of domestic supply at current consumption levels.'

I would expect this argument to appeal to Liz Truss. However, Lawson adds:

'In March, the business secretary, Kwasi Kwarteng, pronounced that “the UK has no gas-supply issues . . . and fracking would come at a high cost to communities”. Those words must be eaten, rapidly. Liz Truss has declared she will back shale-gas production “if local communities support it”. That qualification leaves the matter unclear.'

[sos100] 04/9/2022 16:57

"A source close to the Truss campaign last night said lifting the ban would be an immediate priority if, as expected, she emerges as Britain’s prime minister next week"

[iceagefarmer] 04/9/2022 10:08

sold out friday..bought angus energy for same ride

[buffinman] 04/9/2022 09:40

hxxps://www.thetimes.co.uk/article/is-there-really-any-future-in-fracking-d2h80qwts

Fairly balanced article in The Sunday Times about fracking, centred on Notts and quoting IGAS as well as the usual greenies.

[mountain man] 03/9/2022 18:13

One_FrankelI understand exactly what you mean. Hope is all we have at he moment and that is all any of us can cling to. We will know how much 'steel' she has by next Friday. If she hasn't given the go ahead for fracking by then we are lost. She has to show she has sheer guts from day one on numerous issues. We'll see. She has the backing of the best PM we have never had and I hope it's not misplaced.

[noccer] 03/9/2022 17:39

I was quoting UK gas futures market not the European ones (TTF). Though the comments say they are in line.

[one_frankel] 03/9/2022 16:34

Its more of a risk to Central Europe not to the UK buddy!

[noccer] 03/9/2022 16:13

I think it is well worth a look at the Market->Commodities page on Trading Economics website. There you can see the UK Gas market price - which dropped back recently on the basis that Germnan gas storage was at 85% of capacity and that the pipeline would come back on albeit at 20% again. I quote "Natural gas prices in the UK are down almost 30% from record levels of 640 pence hit on August 26th but hold near 10 times the level they were at the start of 2021"

And that is in the summer before we turn on the heating in our houses, schools, pubs, hopitals, care homes. It is not a price hike, its a case that there just isn't enough to go round. A factor of 10 so far. This is an emergency, not normal supply/demand.

[one_frankel] 03/9/2022 16:05

Not that IGas has already been rising on the expectation Noccer and having a 20:1 consolidation doesn't change the market capitalisation buddy as its still remains the same but has your broker eluded you with buying at £26 hehe!

...And Mountain Man, Conservatives are already 'Toast' at the next general election and Truss will just be biding her time in a role that she's just not 'Fit for Purpose' for unfortunately!

[varies] 03/9/2022 15:00

At the risk of boring all here who are not interested in the Bowland Joint Venture and Cuadrilla Resources and A J Lucas which owns, I believe, 96% of Cuadrilla, I will set out some relevant information gleaned from Pro-Active Australia.
This dates from June 2013. Surprisingly this is the latest relevant info I can find at Pro-Active.

In June 2013 AJL and its associate Cuadrilla Resources sold a 25% interest in shale gas license PEDL 165 (the Bowland Joint Venture) to a wholly owned subsidiary of Centrica for £40 million.
Centrica committed itself to fund £60 million of expenditure on the Bowland JV from 2013 onwards and this meant that AJL would not need to fund any activity there in the near future.

Whether this £60 million has now been spent I do not know.

[mountain man] 03/9/2022 14:27

I know, I read it but in the circumstances of today surely much can be ridden over if there is the will.

[barrelman] 03/9/2022 14:17

In today's Daily Telegraph Truss is firm on her plans to cut green levies, and might well do more to exploit North Sea gas reserves, but reversing the ban on fracking might require too much time and money spent in the courts to be done this side of a general election.

[mountain man] 03/9/2022 14:01

If Truss did not allow fracking then she would be toast at the next election. There is a fortune under our feet and we could satisfy our own needs and supply some of the demand from the continent. It would help our economy massively.I don't think Truss will want to stupidly follow in same footsteps as Carrie and Zac.

[varies] 03/9/2022 13:42

Bad Gateway
I hope you are proved wrong about the government authorising the resumption of fracking.
Our country has a desperate need for gas. We shall be very dependent on the French for electricity supply by under-sea cable this winter and we cannot expect them to keep supplying us if they run short themselves. We are lucky to have a large supply of gas from Norway but there is increasing competition for this.
People who live near the prospective fracking sites would surely welcome a big discount on their bills if offered and the risk of damage from tremors, generally acknowledged to be small, could easily be covered by a government indemnity.
There may, of course, be less gas available from fracking than we hope and I doubt if it could come on stream immediately. It does seem, however, to offer our best chance.

[noccer] 03/9/2022 12:39

Certainly right about tidal energy, as an island we have tides at different times on each side, so no slack period. Underwater turbines in tide races would produce power regardless of weather, out of sight. I guess investment is lagging because its not of interest for other countries without the benefit of tide time differences, or access to coasts.

So Russian gas is staying off, and Liz Truss has vouched to lift the ban on fracking in days. I have a sneaky suspicion Igas shares will go up. Just on the price of gas alone with existing production iGas has never had it so good. Sure some of its output is hedged, but the longer the price stays up the more iGas will benefit. iGas shares are currently a small fraction of what they were years ago before the 20:1 consolidation in 2017. I think break even on my 2014 shares is just over £26 !! I had written the shares off. I suppose that was an inflated price due to the prospect of fracking massively increasing domestic gas production.

[bad gateway] 03/9/2022 12:28

‘Fracking will only take place in areas with a clear public consensus behind it.’

Thats the get out clause then.
Say she'll allow it but pre arrange demonstrations with the NGO's beforehand ready to go at a moments notice anywhere it looks like locals are not worried about fracking (or there are no locals to complain)

Quick photo shoot with the BBC as in Parliament with the glued up demonstrators this week) and Truss can say sorry no one wants it.
Politics is getting too easy to predict.

[one_frankel] 03/9/2022 12:22

I wouldn't 'Truss' Truss with anything as she pi33es with the wind and is a clone of the deep state!

[mountain man] 02/9/2022 19:30

We are on an economic war footing and Liz Truss needs to put planning to one side - we did it in the 2nd world war and we need to do it again. Fracking is in the national interest and needs to be given the thumbs up next week.Likewise, we need to put serious money into tidal energy in Scotland - it could be funded by the major oil companies with say a 15 year interest free loan of £1 billion. This would be instead of another windfall tax which I would be against. Such a fund would be peanuts to the oil majors. Nadhim Zahawi backs tidal energy and seems to be a bit more switched on than most in the cabinet.